The Starr Theater, owned by Meg Vargo, will begin operations in March. The Starr will be unique in that it will show only triple features of sequential theme movies. As of March 1, the ledger of Starr showed: Cash $2,950, Land $ 24,000, Buildings (concession stand, projection room, ticket booth, and screen) $ 12,000, Equipment $ 12,000, Accounts Payable $ 7,400, and Owner's Capital $ 43,550. During the month of March, the following events and transactions occurred. Mar. 2 Rented the three Indiana Jones movies to be shown for the first 3 weeks of March. The film rental was $3,000; $ 1,600 was paid in cash and $ 1,400 will be paid on March 10. 3 Ordered the Lord of the Rings movies to be shown the last 10 days of March. It will cost $ 160 per night. 9 Received $ 4,400 cash from admissions. 10 Paid balance due on Indiana Jones movies rental and $2,200 on March 1 accounts payable. 11 Starr Theater contracted with Adam Ladd to operate the concession stand. Ladd is to pay 15% of gross concession receipts, payable monthly, for the rental of the concession stand. 12 Paid advertising expenses $ 800. 20 Received $5,500 cash from customers for admissions. 20 Received the Lord of the Rings movies and paid the rental fee of $ 1,600. 31 Paid salaries of $2,900. 31 Received statement from Adam Ladd showing gross receipts from concessions of $5,000 and the balance due to Starr Theater of $ 750 ($5,000 ~ 15%) for March. Ladd paid one-half the balance due and will remit the remainder on April 5. 31 Received $ 9,700 cash from customers for admissions. (a) Enter the beginning balances in the ledger. Cash No. 101 Date Explanation Ref Debit Credit Balance Mar. 1 Balance Accounts Receivable No. 112 Date Explanation Ref Debit Credit Balance Mar. 1 Balance Land No. 140 Date Explanation Ref Debit Credit Balance Mar. 1 Balance Buildings No. 145 Date Explanation Ref Debit Credit Balance Mar. 1 Balance Equipment No. 157 Date Explanation Ref Debit Credit Balance Mar. 1 Balance Accounts Payable No. 201 Date Explanation Ref Debit Credit Balance Mar. 1 Balance Owner's Capital No. 301 Date Explanation Ref Debit Credit Balance Mar. 1 Balance V Service Revenue No. 400 Date Explanation Ref Debit Credit Balance Mar. 1 Balance Rent Revenue No. 429 Date Explanation Ref Debit Credit Balance Mar. 1 Balance Rent Revenue No. 429 Date Explanation Ref Debit Credit Balance Mar. 1 Balance Advertising Expense No. 610 Date Explanation Ref Debit Credit Balance Mar. 1 Balance Salaries and Wages Expense No. 726 Date Explanation Ref Debit Credit Balance Mar. 1 Balance Rent Expense No. 729 Date Explanation Ref Debit Debit Credit Balance Mar. 1 Balance Journalize the March transactions. Starr records admission revenue as service revenue, rental of the concession stand as rent revenue, and film rental expense as rent expense. (Credit account titles are automatically indented when the amount is entered. Do not inden manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Act Titles and Explanati Credo (Received admissions) (Paid movie rental) (Paid salaries) (Paid concessions) (Received admissions) Post the March journal entries to the ledger. (Post entries in the order of journal entries presented in the previous question.) No. 101 MI 3,050 11 11 13 13 33 11 No. 112 11 No. 140 23,000 No. 145 12.000 No. 157 12.000 No. 201 Lupul C 7.200 13 Capital No. 301 No. 400 ple Ruf C 13 13 No. 429 B 13 No. 610 No. 726 El Ruf Che No. 729 plants Code 11 STARR THEATER Trial Balance Debit Credit S Totals